Agam Capital and Sompo Life Re have entered into a multiyear service agreement to support the operations of a new, Bermuda-domiciled life-reinsurance platform.

Life Re engaged and collaborated with Agam a technology-enabled insurance-asset and liability management firm to launch its operational capabilities and secure licensing.

The two companies have entered into a multiyear services agreement encompassing the financial, actuarial and risk management functions of Life Re.

Agam will also support Life Re’s management in the evaluation of its strategic asset allocation.

Agam co-founders Chak Raghunathan and Avi Katz said: “We are gratified to be working with the accomplished Life Re team on this exciting new reinsurance platform. Globally, our expanded platform and resources are well positioned to enable Life Re to continue to succeed in the execution of its strategic initiatives.”

Director and chief executive of Sompo Life Re, Tetsuya Morito was pleased to have the support of Agam’s specialist talent and infrastructure as they established this new capability for Sompo.

“It provides a strong foundation for us to build upon,” Mr Morito said.

Satyan Sawhney, director and chief operating officer of Sompo Life Re, added: “Working with Agam in recent months has been highly effective and efficient, enabling us to demonstrate strong governance and advanced capabilities at launch.”